Intel’s actions fall after Trump asks the CEO to give up immediately

Intel The actions fell on Thursday after President Donald Trump requested that the CEO of the chips manufacturer resign immediately.

In Social truth Post Trump said that Intel’s executive president Lip-Bu is so “in conflict and must give up immediately. There is no other solution to this problem.” Intel fell in the premarket to the bottom of that publication, the last operation of 5% lower.

Intel did not immediately respond to a request for comments.

So was appointed CEO of Intel in March when the chips manufacturer tried to recover from the decrease in sales under the administration of Pat Gels.

This week, Senator Tom Cotton, Republican of R-Ark., Questioned the ties of so with Chinese companies and referenced a previous criminal case that involves Cadence designwhere CEO was so until 2021.

Cotton wrote to Intel’s president to “express concern about the security and integrity of Intel’s operations and their potential impact on us national security“

“Intel is required to be an administrator responsible for US taxpayers dollars and comply with applicable security regulations,” Cotton wrote. “Mr. Sr.’s associations ask questions about Intel’s ability to fulfill these obligations.”

Cotton asked if the company required so to unintentionally in position manufacturers linked to the Chinese Communist Party, the popular liberation army and any other entity related to China.

So has invested in several Chinese companies, including some linked to the country’s army, both directly and through risk funds, Reuters reported in April.

Intel exceeded earnings expectations when he reported finance for the second quarter of July, but announced several expense cuts.

In a memorandum, he announced cuts to the expensive foundry division of the company, which makes chips for other companies and had an operational loss of $ 3.17 billion.

The company canceled the FAB projects planned in Germany and Poland, and the evidence and assembly operations consolidated in Vietnam and Malaysia. He also said that Intel would slow down the construction of a chip factory in Ohio.